Online
Tax
Guide
Answers to Your Tax Questions
Individuals
- Can I take tax deductions for contributions to a TFSA
- How can I use a TFSA to its best strategic advantage with my RRSP
- I winter in the U.S. How can I avoid double taxation?
- What are the 2011 deadlines and contribution limits for my RRSP?
- What are the 2012 income tax brackets?
- What is the maximum 2012 contribution to RRSPs?
- What are the implications of switching to an RRIF?
Businesses
- How do I account for asset transfers to a corporation from my business?
- What is the 2011 small business deduction?
- How does the CRA define reasonable living out allowances?
- Are capital gains on shares in my small business taxable?
- How do I calculate the Capital Cost Allowance?
- How do the IRS rules on uncertain tax positions affect my Canadian business?
- Can my business pay tax-free dividends?
Not-for-Profit Organizations
- What in-kind gifts are eligible for a tax receipt?
- How can our group resolve a dispute with the CRA?
- How does the public benefits test work?
- What should I know about my charitable donations and taxes?
- What penalty powers does the CRA have over registered charities?
More Information
A Tax-Saving Tactic for Seniors
Pension income splitting can save you and your spouse or partner tax dollars. Here is a breakdown of how this splitting strategy works, which income is eligible, and how the tactic will affect your finances.
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This chart highlights critical federal tax information to help you plan your tax-minizing strategies for this year. The figures, which include personal and corporate tax rates are compared to the 2011 figures. Some are unchanged, some are indexed to inflation and others have changed because of legislation.
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The information in this Tax Guide is for general guidance only, and does not constitute legal advice, tax advice, accounting services, investment advice, or professional consulting. The information should not and may not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making decisions or taking actions, consult a professional adviser who has been provided with all pertinent facts relevant in your particular situation. Tax articles in this Guide are not intended to be used, and cannot be used, for the purpose of avoiding accuracy-related penalties that may be imposed on a taxpayer.
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